Bangkok: The deputy government spokesperson clarified that the "Thai Helps Thai: Capital Increase, Half-Interest Rate" program is not a direct handout to the public, but rather an initiative to increase access to funding and reduce reliance on informal lending. Funds are allocated through registered legal entities nationwide.
According to Thai News Agency, Ms. Lalida Periswiwatana, Deputy Spokesperson for the Prime Minister's Office, addressed public confusion following the launch of the "Thai Helps Thai: Capital Increase, Half-Interest" project. Some citizens were unclear about eligibility and the concept of "half-interest." The government emphasized that the project involves allocating additional capital through village, urban, and military community funds, totaling 4,452 million baht, rather than direct monetary transfers to individuals.
The project, led by Prime Minister and Minister of Interior Anutin Charnvirakul, aims to enhance access to formal funding sources at reasonable costs, enabling citizens to pursue occupations, generate income, and reduce informal debt reliance. The "Fund" must submit applications, not individual members. Once qualified, funds are required to amend contracts to reduce interest rates on loans by at least half, and the government will allocate additional capital based on the total interest reduction during the fiscal year.
Ms. Lalida clarified that "half-interest" signifies a reduction in loan interest rates for members, not direct government transfers. The government allocates additional capital to participating funds, ranging from 30,000 to 150,000 baht, based on the interest reductions achieved by the funds.
Eligibility for the program requires funds to be registered legal entities with a board of directors and consistent financial reporting to the National Village and Urban Community Fund Office (NVUCFO). Members must approve fund participation, and applications are submitted through provincial coordination centers or NVUCFO branch offices.
The deputy spokesperson stressed that the program's coverage of 79,610 funds and over 12 million members does not guarantee automatic interest rate reductions. Funds must apply and meet qualifications before proceeding. Members are advised to consult their fund's committee regarding participation status and progress.
The government aims to alleviate financial burdens and expand access to formal funding sources for economic empowerment, rather than paying off individual informal debts. Citizens are cautioned against misleading messages offering direct registration for project funds. Verification can be sought through local funds or Community Development Department regional branches.